Saturday, January 17, 2015

Fitch Revises Greek Long-Term Outlook to Negative

Wall Street Journal
January 16, 2015

Fitch Ratings Inc. on Friday revised its outlook for Greece’s long-term foreign- and local-currency issuer default ratings to negative, citing the political uncertainty ahead of national elections on Jan. 25.

The move, on the day that two of Greece’s biggest lenders asked the country’s central bank for emergency cash assistance, signals a possible downgrade.

Fitch affirmed the country’s long-term foreign- and local-currency issuer default ratings along with unsecured foreign and local currency bonds at B, which denotes high credit risk, and kept the country ceiling rating at double-B, two notches below investment grade.

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